Outlook On Media And Entertainment Trends For The Coming Decade

When digital technology exploded, media and entertainment were the first to take advantage of its revolutionary benefits. But innovation in this sector is not yet over. In fact, we are likely going to experience disruptive innovation in the coming years, especially since a new decade is about to usher in.

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What is notable about entertainment today is that there is no longer any distinction between traditional media and digital media. All seems to be getting a digital makeover and with the help of the internet, opens up new avenues for consumer consumption. Take, for example, the case of social media. Nowadays, these platforms are no longer singularly used to connect.

These tools are also heavily capitalized for marketing and advertising. If you have not yet noticed, every business invests in social media to achieve a broader reach. From recognizable brands to ecommerce giants, and even gaming sites like casino.netbet.co.uk, all have catapulted into global success because of media and entertainment innovation.

Top-revenue sectors in the media and entertainment industry

Within the next five years, streaming sites, online advertising, and virtual reality are among the top-earning sectors of media and entertainment. According to recent predictions, the VR market in the US will have an estimated revenue of $7.2 billion by 2022.

Streaming sites are also disrupting how we consume media content. Gone are the days when you have to wait for weekly runs of your favorite show. Nowadays, the trend is to release an entire season of content all at the same time. A market that was once dominated by Netflix, streaming sites like Hulu, Amazon Prime, and Disney + have now joined the game to the benefit of consumers who are always craving for new and original content.


Converging services to improve user experience

In line with the market dominance of social media and streaming sites, there is also a growing need for these companies to converge and meet a unified goal. While these media companies will still compete for higher audience share, the end user will benefit from the myriad of choices as well as the enhanced user experience provided by companies that want to be recognized as the best in the industry.


Improved wireless networks

Since the launch of 5G this year, online content will become more accessible. Telecommunications providers around the world will launch 5G so that consumers can take advantage of better services as well as the enhanced capabilities of the latest mobile devices and gadgets.


Mergers and acquisitions

The media and entertainment industry is ever-evolving. Many media corporations are acquiring smaller companies to strengthen their offerings. Take, for example, the aggressive move of Disney to acquire many of the assets which used to belong to Fox. These acquisitions will not only further innovation but also continue to foster growth within the industry. Although mergers tend to crush the competition where only a few big players remain, consumers can look forward to bigger and better content from some of the most trusted media companies in the world.